Polaris Inc. $PII Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue cut its position in shares of Polaris Inc. (NYSE:PII) by 91.6% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 5,759 shares of the company’s stock after selling 63,113 shares during the quarter. State of Alaska Department of Revenue’s holdings in Polaris were worth $334,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. purchased a new stake in shares of Polaris during the 3rd quarter worth about $26,000. Parkside Financial Bank & Trust raised its holdings in Polaris by 371.4% in the 2nd quarter. Parkside Financial Bank & Trust now owns 693 shares of the company’s stock worth $28,000 after purchasing an additional 546 shares during the period. EMC Capital Management purchased a new position in Polaris during the second quarter worth approximately $36,000. Geneos Wealth Management Inc. grew its holdings in Polaris by 213.5% in the third quarter. Geneos Wealth Management Inc. now owns 928 shares of the company’s stock valued at $54,000 after purchasing an additional 632 shares during the period. Finally, Farther Finance Advisors LLC grew its holdings in Polaris by 31.3% in the third quarter. Farther Finance Advisors LLC now owns 998 shares of the company’s stock valued at $58,000 after purchasing an additional 238 shares during the period. Hedge funds and other institutional investors own 88.06% of the company’s stock.

Insider Activity

In related news, SVP James P. Williams sold 4,554 shares of the firm’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $67.53, for a total transaction of $307,531.62. Following the completion of the sale, the senior vice president directly owned 43,878 shares in the company, valued at approximately $2,963,081.34. This trade represents a 9.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.12% of the company’s stock.

Polaris Trading Up 2.7%

PII opened at $69.94 on Thursday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.02 and a quick ratio of 0.36. The company’s 50 day simple moving average is $67.11 and its two-hundred day simple moving average is $61.23. The firm has a market capitalization of $3.93 billion, a price-to-earnings ratio of -26.39, a price-to-earnings-growth ratio of 2.23 and a beta of 1.14. Polaris Inc. has a 1-year low of $30.92 and a 1-year high of $75.25.

Polaris (NYSE:PII) last posted its quarterly earnings results on Monday, October 27th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.37 by $0.04. The firm had revenue of $1.84 billion during the quarter, compared to analysts’ expectations of $1.68 billion. Polaris had a positive return on equity of 3.89% and a negative net margin of 2.17%.The business’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.73 earnings per share. Analysts expect that Polaris Inc. will post 1.11 EPS for the current fiscal year.

Polaris Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a dividend of $0.67 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $2.68 annualized dividend and a dividend yield of 3.8%. Polaris’s payout ratio is presently -101.13%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PII. Morgan Stanley upped their target price on Polaris from $72.00 to $81.00 and gave the stock an “equal weight” rating in a research note on Friday, January 16th. Roth Mkm increased their price objective on shares of Polaris from $54.00 to $57.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. BMO Capital Markets reiterated a “market perform” rating and issued a $70.00 target price on shares of Polaris in a research report on Wednesday, October 29th. Loop Capital started coverage on shares of Polaris in a research note on Thursday, November 13th. They set a “hold” rating and a $59.00 target price for the company. Finally, Robert W. Baird raised their price target on shares of Polaris from $55.00 to $60.00 and gave the company a “neutral” rating in a research note on Monday, October 6th. One equities research analyst has rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, Polaris currently has a consensus rating of “Hold” and a consensus price target of $59.82.

About Polaris

Polaris Inc, founded in 1954 and headquartered in Medina, Minnesota, is a diversified manufacturer of powersports vehicles and related products. Initially gaining prominence with its snowmobiles, Polaris expanded its portfolio over the decades to include all-terrain vehicles (ATVs), side-by-side off-road vehicles, and motorcycles. The company’s legacy in recreational and utility vehicle innovation stems from early engineering breakthroughs that established Polaris as a leading name in off-road mobility.

Today, Polaris offers a broad range of products under well-known brands such as Polaris RANGER and POLARIS SPORTSMAN for utility and recreation markets, Slingshot three-wheel roadsters for on-road enthusiasts, and the Indian Motorcycle brand for premium two-wheeled touring and cruiser segments.